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View Diary: Mitt Romney is a 'businessman' like the Hamburglar is a rancher (92 comments)

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  •  how do they sell the company - wouldn't a (0+ / 0-)

    prospective buyer see that they have essentially gutted the company and made it weaker in the long term and, in addition, could see how the profits were artificially inflated.

    and if they couldn't sell the gutted company, at a profit, wouldn't that make it much more difficult to have the whole scame turn a profit ?

    big badda boom : GRB 080913

    by squarewheel on Sun May 06, 2012 at 11:27:09 AM PDT

    •  They don't sell the company (0+ / 0-)

      They load it up with every loan they can get, including government subsidies. It runs for a short time and doesn't turn enough of a profit to keep up with the massive new debt that it has. Then when it reaches the point of no return (no return for them, that is) then they execute it.
      They break it up and sell off the pieces. All the equipment, property (both real and intellectual).
      Lay off all the workers, and then in some cases they give top management a deal to run  the new plant in China or Brazil. Or the company disappears entirely.

      Everybody got to elevate from the norm....

      by Icicle68 on Sun May 06, 2012 at 11:58:48 AM PDT

      [ Parent ]

    •  Here's Robert Reich with a great explanation... (0+ / 0-)

      http://www.youtube.com/...

      Vulture capitalism explained!

      Everybody got to elevate from the norm....

      by Icicle68 on Sun May 06, 2012 at 12:04:19 PM PDT

      [ Parent ]

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